Enegi Oil strengthens board

ENEGI Oil, the Manchester-based oil & gas exploration company with interests in Canada and Ireland, has announced several major board appointments ahead of recommencing work at its most advanced Garden Hill South project in Newfoundland, Canada.

Four new directors will join the company’s board – David Parry has been appointed Executive director in charge of developing sites in Newfoundland and Damian Minty will join as Chief Financial Officer. Frank Jackson and Derek Cochrane have joined as non-executive directors, with the former taking on an additional role looking at commercialisation strategies for buoy technology.

Jackson has 20 years worth of experience of the oil & gas sector, where he has raised funds for several companies and taken others to stockmarket flotations.

Meanwhile, David Parry has worked in public companies in the natural resource sector for 15 years.

The company also  announced that after a delay to ensure the PAP#1ST#3 well at Garden Hill South was stable following its most recent workover, plans for the next stage are close to completion.

Enegi Oil is close to completing a deal with a service supplier to carry out the next phase, and to begin a seismic survey at its PL2002-01 lease area.

Alan Minty, CEO of Enegi Oil said: “While the last few months have been frustrating, we remain optimistic about the long term potential of these assets,” he said.

“We are all excited about the company’s opportunities both from buoy technology and the developments in western Newfoundland. The changes to the company’s management have been made in order to realise these opportunities.

“Furthermore, we have worked hard to attract people who possess a great deal of experience within the industry and can bring a strong track record in corporate governance, structuring and completing transactions and fund raising.